DAO - Decentralized Autonomous Organizations

Its a system that lets a group of people to code their process for decision making into a blockchain(eg. Smart Contracts in Ethereum). This software will become the tool that tallies votes and execute actions based on the encoded process.

This system will 'eleminate the middle man' - the centralized decision systems, organizational systems etc. will no longer be needed.

Decision-making can become more frictionless not only within collectives but also between collectives

Many futurists believe that solutions to some of the world’s great challenges — climate, poverty, terrorism, nuclear risk, and so on — will be solved only through the power of decentralized collaboration on a massive scale, as well as through a widespread shift from win-lose (or "rivalrous") economic incentive structures to win-win (or "anti-rivalrous") ones.

Published on: 4th May, 2021

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